Plug Power Extends Strategic Hydrogen Supply Agreement with Multi-Year Contract and Improved Economics with Key Hydrogen Supplier
Plug Power (NASDAQ: PLUG) has announced an enhanced multi-year hydrogen supply agreement with a major U.S.-based industrial gas company through 2030. The extended partnership includes immediate cost reductions and improved network efficiency to support Plug's growing applications business serving over 275 hydrogen-consuming customer sites.
The agreement strengthens Plug's domestic hydrogen network while complementing their Project Quantum Leap initiative focused on cost optimization and cash flow improvement. Plug currently operates hydrogen plants in Georgia, Tennessee, and Louisiana with a combined capacity of 40 tons per day. The company plans to launch over 40 new sites in 2025 with continued expansion expected beyond 2026.
Plug Power (NASDAQ: PLUG) ha annunciato un accordo potenziato di fornitura di idrogeno pluriennale con una grande azienda statunitense del settore dei gas industriali, valido fino al 2030. La partnership estesa prevede riduzioni immediate dei costi e un miglioramento dell'efficienza della rete per supportare il crescente business di Plug, che serve oltre 275 siti clienti consumatori di idrogeno.
L'accordo rafforza la rete nazionale di idrogeno di Plug, integrandosi con l'iniziativa Project Quantum Leap, focalizzata sull'ottimizzazione dei costi e sul miglioramento del flusso di cassa. Attualmente Plug gestisce impianti di idrogeno in Georgia, Tennessee e Louisiana con una capacit脿 complessiva di 40 tonnellate al giorno. L'azienda prevede di aprire oltre 40 nuovi siti nel 2025, con un'espansione continua prevista anche oltre il 2026.
Plug Power (NASDAQ: PLUG) ha anunciado un acuerdo mejorado de suministro de hidr贸geno a largo plazo con una importante empresa estadounidense de gases industriales, vigente hasta 2030. La alianza ampliada incluye reducciones inmediatas de costos y una mayor eficiencia en la red para apoyar el creciente negocio de aplicaciones de Plug, que atiende a m谩s de 275 sitios clientes consumidores de hidr贸geno.
El acuerdo fortalece la red dom茅stica de hidr贸geno de Plug y complementa su iniciativa Project Quantum Leap, centrada en la optimizaci贸n de costos y la mejora del flujo de caja. Actualmente, Plug opera plantas de hidr贸geno en Georgia, Tennessee y Louisiana con una capacidad combinada de 40 toneladas por d铆a. La empresa planea lanzar m谩s de 40 nuevos sitios en 2025, con una expansi贸n continua prevista m谩s all谩 de 2026.
Plug Power (NASDAQ: PLUG)電� 2030雲勱箤歆� 氙戈淡 欤检殧 靷办梾鞖� 臧�鞀� 須岇偓鞕� 臧曧檾霅� 雼る厔臧� 靾橃唽 瓿店笁 瓿勳暯鞚� 氚滍憸頄堨姷雼堧嫟. 頇曥灔霅� 韺岉姼雱堨嫮鞚� 歃夑皝鞝侅澑 牍勳毄 鞝堦皭瓿� 雱ろ姼鞗岉伂 須湪靹� 頄レ儊鞚� 韽暔頃橃棳, 275臧� 鞚挫儊鞚� 靾橃唽 靻岆箘 瓿犼皾 靷澊韸�鞐� 靹滊箘鞀るゼ 鞝滉车頃橂姅 Plug鞚� 靹膘灔頃橂姅 鞎犿攲毽紑鞚挫厴 牍勳雼堨姢毳� 歆�鞗愴暕雼堧嫟.
鞚措矆 瓿勳暯鞚� Plug鞚� 甑偞 靾橃唽 雱ろ姼鞗岉伂毳� 臧曧檾頃橂┌, 牍勳毄 斓滌爜頇旍檧 順勱笀 頋愲 臧滌劆鞐� 欷戩爯鞚� 霊� Project Quantum Leap 鞚措媹靺旐嫲敫岆ゼ 氤挫檮頃╇媹雼�. Plug電� 順勳灛 臁办鞎�, 韰岆劋鞁�, 耄澊歆�鞎犽倶鞐� 靾橃唽 瓿奠灔鞚� 鞖挫榿 欷戩澊氅�, 齑� 靸濎偘 電ル牓鞚� 鞚检澕 40韱�鞛呺媹雼�. 須岇偓電� 2025雲勳棎 40臧� 鞚挫儊鞚� 鞁犼窚 靷澊韸�毳� 臧滌劋頃� 瓿勴殟鞚措┌, 2026雲� 鞚错泟鞐愲弰 歆�靻嶌爜鞚� 頇曥灔鞚� 鞓堨儊霅╇媹雼�.
Plug Power (NASDAQ : PLUG) a annonc茅 un accord pluriannuel am茅lior茅 de fourniture d'hydrog猫ne avec une grande entreprise am茅ricaine de gaz industriels, valable jusqu'en 2030. Ce partenariat 茅tendu inclut des r茅ductions imm茅diates des co没ts et une meilleure efficacit茅 du r茅seau pour soutenir le d茅veloppement des activit茅s de Plug, qui dessert plus de 275 sites clients consommateurs d'hydrog猫ne.
L'accord renforce le r茅seau national d'hydrog猫ne de Plug tout en compl茅tant leur initiative Project Quantum Leap, ax茅e sur l'optimisation des co没ts et l'am茅lioration des flux de tr茅sorerie. Plug exploite actuellement des usines d'hydrog猫ne en G茅orgie, Tennessee et Louisiane avec une capacit茅 totale de 40 tonnes par jour. L'entreprise pr茅voit d'ouvrir plus de 40 nouveaux sites en 2025, avec une expansion continue attendue au-del脿 de 2026.
Plug Power (NASDAQ: PLUG) hat eine erweiterte mehrj盲hrige Wasserstoffliefervereinbarung mit einem gro脽en US-amerikanischen Industriegasunternehmen bis 2030 angek眉ndigt. Die verl盲ngerte Partnerschaft umfasst sofortige Kostensenkungen und eine verbesserte Netzwerkeffizienz zur Unterst眉tzung von Plugs wachsendem Anwendungsbereich, der 眉ber 275 wasserstoffverbrauchende Kundenstandorte bedient.
Die Vereinbarung st盲rkt Plugs inl盲ndisches Wasserstoffnetz und erg盲nzt die Project Quantum Leap-Initiative, die sich auf Kostenoptimierung und Verbesserung des Cashflows konzentriert. Plug betreibt derzeit Wasserstoffanlagen in Georgia, Tennessee und Louisiana mit einer Gesamtkapazit盲t von 40 Tonnen pro Tag. Das Unternehmen plant, 眉ber 40 neue Standorte im Jahr 2025 zu er枚ffnen, mit einer weiteren Expansion 眉ber 2026 hinaus.
- Immediate cost reduction and improved network efficiency in hydrogen supply
- Extended strategic partnership secured through 2030 with major U.S. supplier
- Supporting network for 275+ hydrogen-consuming customer sites
- 40 tons per day current hydrogen production capacity across three states
- Planned expansion of 40+ new sites in 2025
- Continued dependence on external hydrogen suppliers despite own production capacity
- Current market dynamics require mixed hydrogen solutions rather than self-sufficiency
Insights
Plug Power secures hydrogen supply through 2030, reducing costs immediately and improving cash flows while supporting growing customer applications.
Plug Power has strengthened its supply chain security with an enhanced agreement that extends its partnership with a major U.S. industrial gas supplier through 2030. The immediate cost reduction aspect of this deal directly addresses one of Plug's most significant challenges - improving its margin profile while maintaining reliable hydrogen access for its growing customer base of over 275 sites.
This agreement aligns perfectly with the company's ongoing Project Quantum Leap initiative focused on cost optimization and cash flow improvement. For a company that has historically struggled with profitability, securing better economics on a critical input like hydrogen represents a material positive development.
The timing is particularly strategic given the recent passage of energy and tax legislation supporting U.S. clean hydrogen development, which should provide regulatory tailwinds. While Plug continues building its own hydrogen production capacity (currently at 40 tons per day across Georgia, Tennessee, and Louisiana facilities), this balanced approach of both self-production and strategic sourcing provides operational flexibility.
Notably, Plug is planning to launch over 40 new sites in 2025 alone, indicating robust near-term growth expectations. This supply agreement provides the hydrogen security needed for this expansion while preserving capital resources that might otherwise be directed to additional production facilities. The deal appears designed to optimize Plug's capital allocation while maintaining supply chain resilience during a period of anticipated growth.
New Deal Strengthens Domestic Hydrogen Supply, Reduces Cost Structure and Supports Continued Growth of Plug Applications
SLINGERLANDS, N.Y., July 09, 2025 (GLOBE NEWSWIRE) -- (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions, today announced a new multi-year enhanced supply agreement with a leading U.S.-based industrial gas company and longtime hydrogen partner through 2030. The agreement extends the companies鈥� current strategic relationship through 2030, securing reliable hydrogen supply for Plug鈥檚 growing applications business while significantly reducing the cost structure and improving cash flows.
As part of the extension, the strategic partner will continue to supply Plug with liquid hydrogen while immediately reducing the cost and collaborating on improved network efficiency. The extension aligns with Plug鈥檚 strategic objectives to strengthen margins, enhance operational flexibility and support customer demand across a growing base of over 275 hydrogen-consuming customer sites and growing.
鈥淭his expanded agreement supports our mission to build on our already robust and resilient hydrogen network in the U.S.,鈥� said Andy Marsh, CEO of Plug. 鈥淎s we continue to scale our applications business and build long-term partnerships with customers, reliable supply and cost efficiency are critical. This contract is a win for Plug, our customers, our suppliers and our margin profile. The immediate cost reduction complements our progress this year with , focused on cost optimization and cash flow improvement.鈥�
Plug鈥檚 diverse and growing customer base, along with the continued rollout of new sites, demands the ongoing expansion of its hydrogen solutions and supporting network. While Plug continues to scale its own hydrogen production capacity, current market dynamics and anticipated growth necessitate a mix of hydrogen solutions and strong partnerships to advance the industry. Strategic supply agreements like this one allow Plug to meet growing application demand while preserving resources and strengthening partnerships across the value chain.
Plug is rapidly expanding its generation network to ensure a reliable, domestically produced supply, with hydrogen plants currently operational in Georgia, Tennessee and Louisiana. Together, these facilities represent 40 tons per day of liquid hydrogen production capacity, with additional plants under development to further increase Plug鈥檚 footprint and support national infrastructure needs. Plug is launching over 40 new sites in 2025 and anticipates continued growth in the industry in 2026 onward, expanding the need for more ubiquitous and cost-efficient hydrogen supply.
This announcement follows the recent passage of energy and tax legislation supporting U.S. clean hydrogen development. This legislation will provide strong tailwinds in the near and mid-term for additional market growth. Plug鈥檚 expanded agreement with this partner highlights how strong U.S.-based industrial partnerships are advancing a domestic hydrogen economy to support this ongoing growth.
About Plug Power
Plug is building the global hydrogen economy with a fully integrated ecosystem spanning production, storage, delivery, and power generation. A first mover in the industry, Plug provides electrolyzers, liquid hydrogen, fuel cell systems, storage tanks and fueling infrastructure to industries such as material handling, industrial applications and energy producers鈥攁dvancing energy independence and decarbonization at scale.
With electrolyzers deployed across five continents, Plug leads in hydrogen production, delivering large-scale projects that redefine industrial power. The company has deployed over 72,000 fuel cell systems and 275 fueling stations and is the largest user of liquid hydrogen. Plug is rapidly expanding its generation network to ensure reliable, domestically produced supply, with hydrogen plants currently operational in Georgia, Tennessee and Louisiana, capable of producing 40 tons per day.
With employees and state-of-the-art manufacturing facilities across the globe, Plug powers global leaders like Walmart, Amazon, Home Depot, BMW and BP.
For more information, visit .
Safe Harbor
This communication contains 鈥渇orward-looking statements鈥� within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. (鈥淧lug鈥�), including but not limited to statements about: the ability for the supply agreement extension to secure reliable hydrogen supply, reduce the cost structure, and improve cash flows; the anticipated growth and scalability of Plug鈥檚 applications business; the effectiveness of the collaboration to improve network efficiency; the supply agreement extension鈥檚 ability to strengthen margins, enhance operational flexibility and support customer demand; the expansion of Plug鈥檚 hydrogen solutions and supporting network; the ability for Plug to scale its own hydrogen production capacity; the capability of Plug鈥檚 hydrogen plants to produce anticipated rate of liquid hydrogen; the success of Plug鈥檚 plans to develop, build, and operate additional hydrogen plants; and the recent energy and tax legislation supporting U.S. clean hydrogen development ability to produce the anticipated industry tailwinds. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Plug in general, see Plug鈥檚 public filings with the Securities and Exchange Commission (the 鈥淪EC鈥�), including the 鈥淩isk Factors鈥� section of Plug鈥檚 Annual Report on Form 10-K for the year ended December 31, 2024 and Plug鈥檚 Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 and any subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof, and Plug undertakes no obligation to update such statements as a result of new information.
MEDIA CONTACT
Teal Hoyos
Source: Plug Power
FAQ
What is the duration of Plug Power's new hydrogen supply agreement?
How many hydrogen-consuming customer sites does PLUG currently serve?
What is Plug Power's current hydrogen production capacity?
How many new sites is PLUG planning to launch in 2025?
How does this agreement align with Plug Power's strategic objectives?
